Why Are Richard Mille Watches So Expensive in 2023? The Surprising Truth

Although Richard Mille isn’t as old as other luxury watch brands, it has achieved roaring success in the world of high-end watches. However, the high price range of this brand is no less than jaw-dropping. Why are Richard Mille watches so expensive, though?

Alex Mille, the brand founder’s son as well as commercial director, answered this question by saying: “It’s time.” By that, he means the time consumed in developing and manufacturing each piece. Additionally, doing so in Switzerland also comes with a cost.

In this article, we address why Richard Mille watches are costly and answer some questions about this controversial watch brand.

So, keep reading.

Why Are Richard Mille Watches So Expensive? Why is Richard Mille overpriced?

Richard Mille uses highly trained professionals, technicians, and craftsmen to work on the development of its watches. With Switzerland’s high cost of living, these people don’t come cheap.

Moreover, in Richard Mille’s company, they work on each element individually, developing it from scratch. Each watch has a unique design, as they don’t even build on existing models.

A single design may have multiple prototypes and any small change can delay production by several months. That’s not to mention how high up a tourbillon can raise the price of any watch, which is present in many Richard Mille watches.

Moving onto the production process, these watches have hundreds of tiny components. It takes time and precision to assemble and and-finished each watch.

Is Richard Mille Worth It?

Not always – Richard Mille watches are sometimes too expensive.

One watch can have a shocking price tag of over $1 million. That doesn’t mean these watches are wrongfully priced, though. Each watch design takes a long time to come to light, sometimes even too long.

Additionally, Richard Mille watches usually contain highly innovative materials that take years of micro-engineering research. Take a look at some of the most unusual materials Richard Mille uses.

  • Silicon nitride
  • Carbon fused gold
  • Precious stones, like sapphire, rubies, and diamonds
  • Quartz fused gold
  • Other stones, like spessartite, spinels, tsavorites, pink opal, amethysts, lapis lazuli, hematite, malachite, and sugilite

Why Do People Buy Richard Mille?

For some people, Richard Mille watches may be overpriced. Yet, for others, it might be exactly what they want. This brand serves a specific level of demographic. The kind that wants to buy an expensive item just to make the statement, “I have millions to spare.”

The Richard Mille brand knows exactly what buttons to push to keep buyers on the edge of their seats. The most important quality for most Richard Mille enthusiasts is exclusivity.

Every Richard Mille watch has an innovative, avant-garde design. Though it might not necessarily be more precise than other brands, a Richard Mille watch is a statement piece.

Is Richard Mille the Most Expensive Watch in the World?

The priciest Richard Mille watch costs $3.4 million and goes by the model name “RM56-01 Tourbillon Sapphire.” However, it’s not the most expensive watch in the world.

Patek Philippe sits at the top of the world’s most expensive watch brand list with its Grandmaster Chime collection. Shockingly, one watch in this collection was sold at an auction for $31 million.

What Is the Cheapest Richard Mille?

Why Are Richard Mille Watches So Expensive

Although there’s no such thing as a cheap Richard Mille, the lowest-priced Richard Mille watch costs around $60,000 MSRP. However, in the pre-owned market, the same watch is priced at $85,000.

The model name of this watch is RM 016 Automatic Winding Extra Flat, and it comes with specs including:

  • 30m water resistant
  • Silicone strap
  • Stainless steel and titanium case
  • Skeleton dial
  • RMAS7 caliber
  • 55 hours of power reserve
  • Automatic movement
  • 32 jewels

Is Richard Mille Hard To Get?

Richard Mille produces a limited number of watches per year, which doesn’t exceed the limit of 3,000 pieces worldwide. With the high global demand and quite limited supply, you can describe Richard Mille watches as hard to get.

In fact, the waiting list at Richard Mille boutiques is so long that it may take a person up to two years to buy a brand-new watch.

Who Is the CEO of Richard Mille?

Richard Mille is the chairman and CEO of the Swiss luxury watch company Richard Mille. At the age of 50, Richard (born in 1951 in France) decided to create his own watch brand. He wanted to go up and beyond with the watch-making industry.

Richard Mille aimed to create cutting-edge technology and bold designs with no regard for cost. In less than 20 years, Richard managed to compete with luxury brands like Rolex and Audemars Piguet.

Does Richard Mille Cost a Lambo?

Why Are Richard Mille Watches So Expensive in 2023? The Surprising Truth

Richard Mille watches can come with quite high prices, mostly surpassing the $2 million mark. So, as Meek Mill says in his song “going bad,” Richard Mille does indeed cost a Lambo.

How Much Is the Cheapest Rolex?

Whether new or preowned, the cheapest Rolex is one of the Oyster Perpetual models. It’s basically the first waterproof watch Rolex made, and it comes with a perpetually winding rotor inside.

For an Oyster Perpetual reference 276200 women’s Rolex, you can pay as little as $5,300. On the other hand, the men’s Oyster Rolex reference 126000, costs $5,800.

What Watch Costs More Than a Rolex?

The priciest Rolex watch costs $7.8 million, but it surely isn’t the most expensive watch ever. In fact, a few watches cost more than a Rolex, ranging between $25–$55 million. Take a look at the top three most expensive watches.

  • Patek Philippe Grandmaster Chime Reference 6300A-010: Patek Philippe is the most expensive luxury watch brand. As mentioned above, Patek Philippe’s highest-priced watch costs $31 million.
  • Graff Diamonds The Fascination: Although not a watch manufacturer, Graff Diamond, the British jeweler, owns the two most expensive watches in the world. The Fascination watch model is one of them, costing $40 million. It’s truly “a fascination.”
  • Graff Diamonds Hallucination: This is the most expensive watch ever made and is priced at $55 million. Graff Diamonds Hallucination is a platinum bracelet watch featuring 110 carats of differently cut and colored diamonds.

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One comment

  1. Everything is very open with a clear description of the challenges. It was really informative. Your site is extremely helpful. Thanks for sharing!

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